HA!

Check this out…

Not only is this the most comical case ever, it enlightens us all on the internal procedures and the secret contracts with the banks…

Many thanks to Foreclosure Hamlet for taking the time to go down to Broward county and pull these most anticipated case files…

SOVEREIGN  BANK,

Plaintiff,

vs.

FLORIDA DEFAULT LAW GROUP, P.L., d/b/a ECHEVARRIA, CODILIS  & STAWARSKI

Defendants

From the complaint…

The within  action  arises  from  legal services  provided  by Defendants to Plaintiff in Broward County,  Florida.

On or about February 2, 2007, Plaintiff engaged Defendants to bid on a foreclosure sale  in Broward County, Florida.

Specifically, Plaintiff was  the holder of a second mortgage,/home  equity line of credit…

On or about August 17, 2006  the Brandts were sued by the homeowners association…

Plaintiffs nominee, Mortgage Electronic Registration  Systems, Inc., was named as a defendant…

The HOA  lawsuit proceeded  to final  judgment  in the County Court in Broward County, Florida,  and  the  foreclosure  sale was scheduled for February 9, 2007…

A copy of the final judgment in the amount of $4,294.68,  is attached…

Pursuant  to the February  2,2001  engagement letter, Composite Exhibit “B” the approved  bid amount  was $383,700, since Plaintiff at  the time believed  that  in order to protect  its interest  it had  to pay off the first mortgage  on the Real Property in addition to the HOA judgment amount, and  that the approved  bid amount would be sufficient  to pay off the  first mortgage and  the home owner’s  judgment and acquire a first lien on the Real Property.

Thus, Defendants knew from  the moment  they received  the facsimile  transmission on February  2, 2007, that the amount  of the Final Judgment was only $4,294.68 although  the approved  bid amount was $383,700.

Defendants failed  to give Plaintiff proper  legal advice  that a bid amount of $383,700 was completely unnecessary  to satisfy  the HOA  judgment and that all that had  to be paid to obtain  a certificate of sale and certificate of title, subject to the first mortgage, was $4,294.68

Additionally, apparently believing  that $383,700 was an  insufficient sum  to satisfy a$4,294.68 judgment,  on or about February  6, 2007, Defendants requested Plaintiff wire monies in the total amount of $392,148.90, or $8,448.90 additional,  in order to bid at the February 9, 2007  sale and  to pay for court costs and documentary  stamps.

Although  the Real Property could have been purchased at the February 9, 2007 foreclosure  sale  for $4,294.68,  subject  to the first mortgage, Defendants  failed to advise Plaintiff of this  fact and proceeded  to bid and pay $392,148.90  at  the sale on behalf  of Plaintiff.

Since Defendants bid $392,148.9A at a foreclosure  sale when the Final  Judgment was $4,292.68,  excess funds of $376,200.50 were placed into  the court registry.

Defendants  compounded  their errors and  failed  to  timely and properly  advise Plaintiff of the steps  to take  to reclaim the excess  funds

Instead,  the Brandts,  the parties  in default,  petitioned  for and received  the $376,200.50  in excess funds…

And you know what?

The homeowners took the money and ran…

Hahahahhahahhha

Thereafter, Plaintiff was named as a defendant  and subordinate  lienholder in a separate  foreclosure  action, styled U.S. Bank v. Erwin J. Brandt, et al., Case No. 07-I8075 after which Plaintiff will be left without the Real Property  and without  the $392,148.90 bid at the first  foreclosure sale…

CLASSIC!!!

Check out the case files below…

This should get very interesting…

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4closureFraud.org

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Complaint Sovereign Bank, Plaintiff, Vs. Florida Default Law Group, p.l., DBA Echevarria Codilis & Stawarski Defendants

Exhibits Sovereign Bank, Plaintiff, Vs. Florida Default Law Group, p.l., DBA Echevarria Codilis & Stawarski Defendants